Australia's Mighty Kingdom falls on discounted placement

Fortifai

15/12/2021 24:34

** Shares of game development firm Mighty Kingdom  MKL.AX 
slide as much as 14.7% to A$0.145, post their worst intraday
session since July 26
    ** Co receives commitments to raise about A$4.0 mln ($2.84
mln) via placement of up to 27.9 mln new ordinary shares 
    ** Issue price of A$0.145 represents a 14.7% discount to
co's last closing price
    ** New shares represent 29% of shares on issue
    ** Co will also undertake a share purchase plan to raise up
to A$1 mln
    ** Shares hit their lowest level since Nov 16
    ** As of last close, stock down 39.3% since April debut

    ($1 = 1.4071 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))